The Dublin-domiciled Man GLG Pan-European Equity Growth fund will be run by Rory Powe, who also manages the GLG Continental Europe Fund, assisted by analyst and deputy portfolio manager Virginia Nordback and analyst Ivan Rachev.
Powe uses a bottom-up stock picking process which aims to build a concentrated long-only portfolio of the most attractive companies in Europe.
The fund will have an all-cap strategy and will typically hold between 30-40 stocks selected from an initial universe of 3,000 names. These will be divided into two types of company, defined as either ‘established leaders’ or ‘emerging winners’.
Powe looks for companies that have a high or rising market share, sustainable competitive advantages, repeatable revenues and pricing power. Revenue expansion over a three-to-five year period irrespective of the macro environment is another criteria, along with strong margins, financial strength and attractive valuations.
Powe joined GLG in 2014 from Powe Capital Management which he founded in 2001 and which was subsequently wound up.
Teun Johnston, chief executive of Man GLG, said: “Rory’s long and successful career investing in European companies has enabled him to hone a strategy that is both high conviction and focused on investing in Europe’s strongest companies.”
